Middlefield Banc Corp. reported unaudited consolidated financial results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported interest and fees on loans of $6,168,000 compared to $5,811,000 a year ago. Total interest income was $7,343,000 compared to $7,055,000 a year ago. Net interest income was $6,335,000 compared to $6,050,000 a year ago. Income before income taxes was $2,048,000 compared to $2,438,000 a year ago. Net income was $1,750,000 or $0.92 per diluted common share compared to $1,888,000 or $0.92 per basic and diluted common share a year ago. Return on average assets was 0.96% compared to 1.10% a year ago. Return on average equity was 11.26% compared to 11.98% a year ago.

For the year, the company reported interest and fees on loans of $23,824,000 compared to $22,726,000 a year ago. Total interest income was $28,595,000 compared to $27,874,000 a year ago. Net interest income was $24,775,000 compared to $23,804,000 a year ago. Income before income taxes was $8,427,000 compared to $9,172,000 a year ago. Net income was $6,865,000 or $3.39 per diluted common share compared to $7,180,000 or $3.50 per diluted common share a year ago. Book value per share as on December 31, 2015 was $33.19 compared to $31.12 as on December 31, 2014. Tangible book value per share as on December 31, 2015 was $30.72 compared to $28.84 as on December 31, 2014. Return on average assets was 0.97% compared to 1.07% a year ago. Return on average equity was 10.62% compared to 12.17% a year ago.

For the quarter, the company reported net charge-offs of $40,000 compared to $442,000 a year ago.